May 10, 2018

SBA: Funding Awarded for 22 Veterans Business Outreach Centers

The U.S. Small Business Administration this week announced the awarding of $6.6 million in funding to 22 organizations to provide training and counseling to current and aspiring veteran small business owners as a Veterans Business Outreach Center (VBOC).

The funding opportunity, offered by SBA’s Office of Veterans Business Development, is a one-year initial award with up to four additional one-year option periods, subject to the availability of funds.

Each VBOC provides entrepreneurship training to military service members and military spouses through the Boots to Business Entrepreneurship Training Program, the business training track under the Department of Defense’s Transition Assistance Program.

“Nearly one in 10 small businesses in the U.S. is owned by a veteran – and we continue to see these numbers grow,” said SBA Administrator Linda McMahon. “SBA is proud to work with our grantee organizations, like the Veterans Business Outreach Centers, to prepare veterans to succeed as entrepreneurs. Their success is our nation’s success.”

In addition to transitioning service members and veteran small business owners, VBOCs also serve other members of the military entrepreneurship community, including active duty service members, veterans of all eras, National Guard and Reserve component members, and military spouses who aspire to be or are existing business owners.

“In 2017, VBOCs provided training and counseling to more than 48,000 clients,” said Barb Carson, Associate Administrator for SBA‘s Office of Veterans Business Development. “The addition of two new VBOCs, in conjunction with full geographic coverage, enables us to achieve more for our veteran and military entrepreneurs. I look forward to the progress we can make together.”

The award expands the existing VBOC network from 20 to 22 centers nationwide. Each of the awardees display proven commitment and continued excellence in providing wide-ranging entrepreneurial resources to the veteran and military community.  Meanwhile, five new VBOCs will join the network:

To learn more about the new VBOC network, and to find your local center visit www.sba.gov/vboc.  For more information on SBA veterans programs, visit www.sba.gov/vets.

This post was originally published here.